Brief: Techstep To Implement Temporary Reduction In Workforce Due To COVID-19 Outbreak

Techstep ASA

31/03/2020 15:37

March 31 (Reuters) - Techstep ASA  TECHS.OL :
    * OPERATIONAL AND FINANCIAL UPDATE RELATED TO THE COVID-19
OUTBREAK
    * TECHSTEP IS ALREADY EXPERIENCING REDUCED DEMAND FOR ITS
HARDWARE
OFFERINGS AND PRIVATE ENTERPRISES ARE PARTICULARLY AFFECTED BY
OUTBREAK
    * DEMAND FOR TECHSTEP'S SOLUTIONS AND COMMUNICATION
SERVICES,
HOWEVER, HAVE BEEN STABLE AND IN SOME CASES INCREASED
    * IT IS TOO EARLY TO SAY WHETHER INCREASED DEMAND FOR
SOLUTIONS
AND SERVICES WILL MAKE UP FOR REDUCED HARDWARE DEMAND
LONGER-TERM
    * CORONAVIRUS OUTBREAK IS LIKELY TO AFFECT OVERALL DEMAND
FOR
TECHSTEP'S OFFERINGS
    * TECHSTEP HAS IMPLEMENTED A TEMPORARY REDUCTION IN
WORKFORCE
CAPACITY BY APPROXIMATELY 20%, EFFECTIVE IN APRIL
    * RISK RELATED TO SUPPLY OF HARDWARE COULD INCREASE
    * SOFTWARE, OPERATIONAL AND COMMUNICATIONS SERVICES WILL
CONTINUE
AS NORMAL TO SERVE EXISTING AND POTENTIALLY NEW CUSTOMERS'
MOBILITY NEEDS
    * IMPLEMENTED A TEMPORARY REDUCTION IN WORKFORCE CAPACITY BY
APPROXIMATELY 20%, EFFECTIVE IN APRIL
    * TEMPORARY REDUCTIONS ARE MAINLY WITHIN HARDWARE SALES AND
INCLUDE BOTH NORWEGIAN AND SWEDISH EMPLOYEES

Source text for Eikon:  ID:nWkr2pBzRs 
Further company coverage:  TECHS.OL 

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